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Disclosure announcement transmitted by euro adhoc. The issuer is
responsible for the content of this announcement.
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Advanced Medien announces preliminary results for fiscal year 2002:
- Revenues down to EUR 9.8 million
- Result burdened by amortization and value adjustments
Munich, March 20, 2003 - Advanced Medien AG continued its
consolidation strategy during the past fiscal year. According to the
preliminary consolidated financial statements, the guarded purchasing
behavior with regard to motion picture rights and the continuing weak
market in the field of film licenses resulted in a reduction in
consolidated revenues to EUR 9.8 million, down from EUR 19.5 million
for the previous year. Of this amount, EUR 1.9 million (previous
year: EUR 9.6 million) in revenues were recorded in Germany and EUR
7.9 million (previous year: EUR 9.9 million) abroad.
Earnings before interest, taxes, depreciation and amortization
(EBITDA) was EUR 12.0 million, up from EUR 10.8 million in 2001. This
was mainly due to EUR 7.9 million in other operating income (previous
year: EUR 1.8 million). This increase can be explained mainly by
reversals of accruals, especially provisions for potential losses, in
the amount of EUR 3.7 million and write-ups of film assets of EUR 4.9
million. Following the deduction of amortization worth EUR 16.9
million, earnings before interest and taxes (EBIT) improved to EUR
-5.0 million, up from EUR -16.0 million for the previous fiscal year.
The amortization amounts mainly consist of amortization of film
assets in the amount of EUR 15.0 million and the full amortization of
the remaining goodwill in the partially owned subsidiary U.F.O.
Unified Film Organization, LLC. in the amount of EUR 1.8 million. The
consolidated net loss for the year was EUR 6.0 million (previous
year: EUR 17.5 million).
Key figures in EUR million
~
2002 2001
Revenues 9.8 19.5
Other operating income 7.9 1.8
EBITDA 12.0 10.8
EBIT -5.0 -16.0
Net loss 6.0 17.5
Net loss per share 0.33 1.00
~
The complete annual report will be published on March 31, 2003, at
www.advanced-medien.de.
end of announcement euro adhoc 20.03.2003
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Further inquiry note:
Susanne Rehm Tel.: +49(0) 896138050 Email: info@advanced-medien.de
Branche: Media
ISIN: DE0005093009
WKN: 509300
Index: Nemax All Share
Börsen: Frankfurter Wertpapierbörse / Neuer Markt
Baden-Württembergische Wertpapierbörse / free trade
Bayerische Börse / free trade
Berliner Wertpapierbörse / free trade
Börse Düsseldorf / free trade
Niedersächsische Börse zu Hannover / free trade